Payment Protection Insurance
Payment Protection Insurance
If you could not work due to illness, or you had an accident, or if you became unemployed, how would you pay your regular monthly outgoings?
Just consider these worrying statistics about unemployment and disability in the UK:
- 24% of all working age households (4 million) have someone who is currently out of work.
- Every day 800 people loose their job through redundancy. Nearly 80% of unemployed men and 50% of unemployed women will be out of work for over 6 months.
- A third of all people aged between 26-37 have experienced unemployment for a period exceeding 2 months. Due to the current economic crisis – this is expected to double
- Every day 3,500 people will attempt to claim State Disability Benefits.
- 2.7 million people are disabled claiming benefits and have been unable to work for a year or more.
Good news for people renting property
If you were one of the unfortunate statistics above, how would you pay your monthly rent.
In the past payment protection insurance was only available for people to protect their mortgage payments, now we have the same policy that protects your monthly rental costs.
What does it cover?
Home rental, Mortgage and other loan payments, Insurance premiums, Utility and Telephone bills, Car/Life insurance premiums, Sky/cable premiums, Gym membership and others.
What are the benefits?
It can provide a monthly income of up to 90% of your normal net income, up to £3,000 per month
- It covers Accident, Sickness & Unemployment, Accident & Sickness only, or Unemployment only
- Benefit period of 12 or 18 months duration
- A choice of excess options – Back to day 1 cover (no excess) 30 days or 60 days
- Pay by monthly direct debit with the first month’s premium free
The cost of such a valuble protection policy is surprisingly low, but please contact us for a no obligation quotation and see for yourself.
Payment Protection Insurance